Thank you for your response, greatly appreciated. One more follow up question I have.
Do I need take out the $500 I over contributed in 2018 so I do not get in trouble with the IRS, or will the only penalty be that I will be taxed twice? I just want to make sure that my earnings in the next 40 years on the $500 are not taxed more than the standard tax when 401K accounts is distributed during time of retirement.
Thank you,
- Matthew4
